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1220 Us Route 301

Hines Acquires Industrial Property At 1220 Us Route 301 In Tampa For $46M
SOLDIndustrial

Hines Acquires Industrial Property At 1220 Us Route 301 In Tampa For $46M

1220 Us Route 301

$46,000,000

$35/SF

Building Size

1,300,000 SF

Asset Type

Industrial

Closing

Oct 2, 2023

AI

A 390,711 square foot industrial property located at 1220 Us Route 301 in Tampa has been sold for $46,000,000. The property was purchased by Hines from High Street Logistics Properties. The sale price equates to a price per square foot of $118.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $46,000,000
  • SF: 390,711
  • PPSF: $118
  • Address: 1220 Us Route 301, Tampa

The transaction was facilitated by the brokers Mike Davis, Rick Brugge, Rick Colon, Chloe Strada, and Dominic Montazemi of Cushman & Wakefield.

Players

Dominic Montazemi

Cushman & Wakefield

Broker

$4.2B

vol

90 deals

Broker
Hines
HinesBrokerage
Hines
HinesBuyer

Tampa Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93